Nifty update

A possible count..Valid if 5708 is not breached on the upside, which becomes a stop for short trades now.

Nifty update

Count updated. One possibility is that the correction over today and we see an upmove, the other possibility is that we go further down, possibly after a small bounce. The latter is the preferred likelyhood. Keeping below 5752, expect further downsides, maybe towards 5550-5625

 

 

Hindunilvr

Chart shows two counts. In either case, expect the stock to touch at least 539 and possibly 546.

Nifty - Count revised and updated

Looks like a corrective move has started in Nifty. Now as long as 5777 is not crossed, we should hope to see 5700 and lower. Break of 5700, should bring 5625-5635 as a target.

 

 

Nifty update

We did not expect a major gap up despite US elections notwithstanding..We did not get a gap up, a slightly lower opening. So this one was OK..

We expected a corrrection, we got a shallow one, with the low of 5711 within the first 15 minutes. This one was also ok.

We expected a short term top, provided 5755 was not breached. We did not get the short term top, with 5755 being breached during the intraday moves, though close was lower than this crucial level. Wave count a bit confusing, so will review tomorrow. At present as long as 5680 holds and 5755 is breached we will think in terms of market remaining strong.

Bharat Forge

Looks interesting. If we count ABC, then we seem to have a bounce on. If we count impulsive, then also a small bounce followed by wave 5 downwards left with 240-245 as a possible target too. In either case ready to do pyramid investing down.

 

Nifty on eve of US election results

With US election results looming large, where does Nifty stand? On the face of it, it has closed strong, but a wave count suggests a short term top is in or maybe 20 odd points more at best in a gap up tomorrow morning. Thereafter a correction back to 5680-5695 range. (All above levels are Nifty spot levels). Sustaining above 5755, may mean my count is wrong.